An accountant with a foreign diploma: how to find work in Bulgaria

An accountant with a foreign diploma: how to find work in Bulgaria

We recently saw a post on one of the local forums whose main point was that it is practically impossible for an accountant with a Russian diploma to find work in Bulgaria. Most likely such a view is based on a personal negative experience. But things are not as bleak as they may seem at first glance. As they say, the lazy give up, the active win.

Legalising a diploma in Bulgaria

Let us immediately dispel the myth about the recognition of foreign diplomas.

Many believe that an educational document must go through a recognition procedure. Supposedly, without proper recognition of the diploma it is impossible to work as an accountant in Bulgaria.

We are glad to tell you that legalising a diploma is only worth doing for those who plan to sign annual financial statements.

The recognition procedure takes place in several stages:

• translation of the diploma;
• certification of the educational document;
• recognition (nostrification).

The diploma recognition procedure is handled by the National Centre for Information and Documentation. The organisation checks the authenticity of foreign diplomas and compares the data with the requirements for obtaining education in a similar speciality in Bulgaria.

In order for an accountant’s diploma to be officially recognised, you need to have a command of the Bulgarian language and of professional terminology.

Those who have at least 8 years of practical work experience can breathe easy — the actions described above are not mandatory for you. Experienced accountants may sign annual financial statements without legalising their educational documents.

Requirements for applicants

In order to be officially employed as an accountant in Bulgaria, you must hold a permanent residence permit, EU long-term resident status or a long-term residence permit with the right to work in Bulgaria.

The possibility of obtaining residence status in the country is set out in Art. 24 of the Law “On Foreigners in the Republic of Bulgaria”. Many of the foreigners who move to Bulgaria obtain a permit for residence on grounds of family reunification, which grants the right to employment.

The second most popular misconception about employment concerns work experience. There is a belief that experience gained outside Bulgaria is not taken into account when being hired. Of course, this is not the case — both work experience and education obtained abroad will be counted.

Moreover, you can work as an “operational accountant” in Bulgaria even without a specialised education. You can start performing your job duties immediately after completing courses.

Express training usually lasts only two months. During this time the student will not only get to know Bulgaria’s tax system, but will also study the main laws directly related to the profession:

• the VAT Act;
• the Accountancy Act
• the Commerce Act.

Special requirements apply to those who prepare annual financial statements. In accordance with Art. 35 of the Law “On Accountancy”, the applicant must meet one of the following criteria:

• Hold a higher education degree in accounting or economics, as well as experience in accounting, internal or external audit, financial inspections and tax audits, or experience teaching accounting and control. The required length of professional experience depends directly on the qualification: 2 years for master’s degree holders, 3 years for bachelor’s degree holders, and 4 years for specialists.
• Hold another higher education degree in economics and have 5 years of experience in accounting, internal or external audit, financial inspections and tax audits, or experience teaching accounting and control.
• Hold a secondary education in economics and have 8 years of experience working as an accountant.

In reality, finding a job as an accountant in Bulgaria is not difficult. The main thing is to assess your chances realistically and not sit idle. You need to improve your command of the national language, paying particular attention to professional terminology, and study the country’s current legislation. Those who did so have long been sitting in accountants’ chairs and working successfully.

If you do not know where to start, the specialists at Bulgarian Expert will advise you and also help you understand and complete the entire procedure for recognition of a diploma obtained abroad.

Long-term residence permit in Bulgaria

Permanent residence permit in Bulgaria

Accounting